Safe Wallet Responds After Being Linked to the Bybit Attack

Safe Wallet has broken its silence after investigations indicated that the breach suffered by Bybit was made possible due to a flaw in its infrastructure. A forensic analysis revealed that the attack, carried out by the North Korean Lazarus group, did not exploit vulnerabilities in Safe’s smart contracts. Instead, it originated from the compromise of a developer’s machine within the platform.

The Lazarus group is notorious for using sophisticated social engineering techniques—a cyberattack method that manipulates individuals into revealing confidential information. Instead of exploiting technological weaknesses, these attacks often target human vulnerabilities, making them particularly dangerous.

Following the widespread concerns over the incident, the Safe Wallet team conducted a complete restructuring of its infrastructure, gradually restoring its service on the Ethereum mainnet. Additional security measures were implemented to mitigate future risks, and users are advised to exercise extra caution when signing transactions.

Safe Wallet Enhances Security Following Incident Linked to Bybit

A security analysis conducted by experts confirmed that the attack targeting Bybit was orchestrated by the Lazarus group. The method used involved exploiting a compromised developer machine at Safe Wallet, which allowed the creation of a maliciously disguised transaction. However, no vulnerabilities were found in Safe’s smart contracts, source code, or frontend services.

Given the severity of the incident, Safe Wallet conducted an internal investigation and implemented a complete overhaul of its infrastructure. As part of the recovery process, the team reconfigured servers, rotated credentials, and applied enhanced security protocols. The service restoration on the Ethereum network is being carried out in stages to ensure stronger protection.

Although the platform is now operational, Safe Wallet has reinforced the importance of user caution. The company emphasized that transaction signatures should be carefully verified to avoid exposure to potential phishing attacks—a type of online fraud where hackers impersonate trusted entities to deceive victims and steal sensitive information.

Additionally, the Safe Wallet team announced that a detailed report on the incident will be released once the investigation is complete. This document will provide transparency regarding the events leading up to the attack and the steps taken to strengthen security.

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As a response to the breach, Safe Wallet has committed to leading an initiative aimed at improving transaction verifiability. The goal is to make the process more transparent and secure for all users. The company emphasized that Web3 security is a collective challenge requiring ecosystem-wide collaboration and reaffirmed its commitment to transparency, self-custody, and the advancement of the sector.